[SMM Survey] Short-term Maintenance at Mines During Holiday, Slight Decline in Iron Ore Concentrates Production

According to the latest data from SMM, the capacity utilisation rate of domestic mines fell to 56.6% last week, down 1.8 percentage points from the previous week. Pig iron concentrates production reached 755,000 mt, down 24,000 mt WoW. Sales stood at 745,000 mt, down 15,000 mt WoW. Meanwhile, mine concentrates inventory increased by 10,000 mt, with the current total inventory at 275,000 mt.
During the Labour Day holiday, the overall production at mines and beneficiation plants remained relatively stable. Some beneficiation plants underwent short-term maintenance, but the impact was brief and had limited effect on production. The short-term maintenance was mainly concentrated in some beneficiation plants in north and east China. Secondly, safety inspections in the north-east China region remained frequent, with some mines and beneficiation plants facing difficulties in rectification. As a result, the overall production of iron ore concentrates showed a slight decline. This week, following the end of the holiday, mines and beneficiation plants have gradually resumed normal production. Currently, pig iron production at steel mills' blast furnaces remains at a relatively high level, providing some support for demand. It is expected that domestic iron ore concentrates production may increase slightly.